The single currency recorded a second consecutive loss against the dollar on Thursday. The pair broke the support at 1.1105 but finished above its levels. Short-term indicators remain in favor of the US currency, giving a request for continuation of the negative trend until the support at 1.1016. The session started at a price of 1.1223 as at the beginning the trend was neutral. Significant decrease was noted in the afternoon when currencies hit bottom for the day at 1.1087. The session ended with 35 pips up.
Sherif Fares
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Not much of a movement after the mixed data of positive unemployment rate and negative NFP
victoriajensen
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EUR/USD reached the support at 1.1090 and bounced off of it, but if it breaks below that level it might reach 1.1000, perhaps even 1.0950.
victoriajensen
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I really hope we will finally see some serious movement on the EUR/USD chart because this range has been going on for months now.
fxstrategist
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Eurusd
The EURUSD has found a good support at the 1.1100 level. It could get stuck around current levels for a while.
The EURUSD has found a good support at the 1.1100 level. It could get stuck around current levels for a while.
According to the analysts, even though NFP report headline number of 173,000, but the details of the report were more encouraging.
On Friday session the EURUSD pair initially fell but found enough buying pressure to turn around and close in the green near at the middle of the daily range. The currency made a narrow range thus creating an inside day, signs that daily support at 1.1097 is holding the price. Today, September 7th, the US Banks are closed for Labor Day and as a result the pair should stay in a ranging mode.
Sherif Fares
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A narrow range for the start of the week.
The euro recorded a minimal increase against the dollar on Friday. EUR / USD started the daily session at 1.1122 and ended with a profit of 21 pips, which could not compensate weekly losses of the single currency at a rate of 0.3%. Trading on Friday was held within 1.1091 and 1.1179. The graphics developed under low moving averages, while the relative strength index remained at negative territory, suggesting continuing dominance of bears and a test of 1.1055.
victoriajensen
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Today was a very slow day for EUR/USD but I think that the pair is bouncing off the support at 1.1100 and we can expect another move to the upside soon.
The euro recorded a minimal increase against the dollar on Monday. The pair started the daily session at 1.1162 and ended with a gain of only 6 pips. Trading on Friday was held within 1.1121 and 1.1177. The index of relative strength remains into neutral territory. Test of resistance at 1.1180 is possible while the Bulls dominate.
Yesterday the EURUSD initially fell but found enough buying pressure to turn back around and close in the green near the high of the day. The currency made a 2nd straight narrow range day suggesting that a break above or below of this inside day will be explosive. Levels to watch today: 1.1237 (Resistance) and 1.1097 (Support) and a break above the resistance or a break down below support would set the tone for the mid-tem.
